Regal Beloit Setting Up For A Nice Long

Regal Beloit (NYSE:RBC) is setting up for a nice long in my opinion. If we look at it on a weekly setting we can see that the stock has bounced off oversold conditions and has also pierced through its 50 week moving average. If one was highly focused, one could wait until we get a dip down again and test the lows once more (or if we could get oversold again on the daily and weekly RSI indicators). However its valuation looks very attractive and with earnings growth expected in 2017, I don’t see this stock trading at this valuation for long. Earnings will be announced in 13 days. The conundrum is – wait to see if we can get a temporary pullback or buy now and hold on..